The Water Utilities Industry has declined by almost 20% compared to its combined market capitalization a year ago. It is one of the few parts of the economy that has done worse than the general S&P 500 Index. The decline during the first half of June 2008 has been terribly steep. Is there any relief in sight?

Answers to questions of financial viability should follow relevant diagnoses. Utilities all over the world have been subject to unrealistic expectations for many years. Even free market economies are not exceptions. We use too much water, and do not recognize its true value. This cannot continue whether or not we hold industry stocks.

The Water Utilities Industry has untapped potential for green business. It is positioned just right to leverage environmental awareness for new drivers of competitive advantage. Water is a closed system as a sustainable resource, and enterprises based on this substance must fashion